Ford announces that new GT will be built in Ontario
|CTVnews 12 Feb 2015 at 07:27|
DETROIT -- Sport utility vehicles are unstoppable -- and automakers hope to cash in on the boom with some updated models coming to this year s Chicago Auto Show.
One out of every three new vehicles Americans bought last year was an SUV, according to Kelley Blue Book. SUV sales rose 12 per cent to more than 5.5 million. That was double the pace of the industry as a whole.
Strong demand is likely to continue this year, says Jesse Toprak, president of Toprak Consulting Group. SUV sales may not see double-digit growth, since overall sales are expected to slow as the U.S. market nears a peak of 17 million vehicles. But SUVs should still outpace sales of cars, Toprak says.
Small SUVs like the Honda CR-V have been the fastest growing segment in the market for the last three years. They appeal to both young families and aging Baby Boomers. Low interest rates, easing credit standards and new versions of popular models like the Jeep Cherokee and Subaru Outback have also fueled demand.
More recently, low gas prices helped boost sales of bigger SUVs like the Chevrolet Tahoe and Lincoln Navigator. Last June, when gas prices peaked at $3.76 per gallon, SUV sales made up 33 per cent of new vehicle sales, while small cars made up 20 per cent, according to Ward s AutoInfoBank. By December, when gas prices had fallen to $2.63, SUV market share rose to 35 per cent, while small cars fell to 16 per cent.
Here are some of the SUVs debuting at the Chicago show, which opens to the public Saturday:
CHEVROLET EQUINOX: General Motors Co. is unveiling a refreshed Chevrolet Equinox small SUV. It s the first update to the Equinox since it went on sale in 2010, and it should help the popular SUV compete with newer rivals until it gets an expected redesign in late 2017.
The 2016 Equinox will have a larger, handsomer, chrome-accented grille and upgraded projector-beam headlamps; on higher trim levels, the headlamps are LEDs. A rear-view camera will be standard on all models. Blind spot detection and cross-traffic alert are new options. Inside, there s a new standard seven-inch screen and an updated instrument panel.
The Equinox has been a consistently strong seller despite its advancing age. Last year, Equinox sales rose 2 per cent to 242,242, making it the fourth bestseller in the crowded small SUV market behind the Honda CR-V, Ford Escape and Toyota RAV4. The 2016 Equinox goes on sale this fall.
KIA TRAIL STER: The Kia Soul meets Jeep with the Trail ster concept. Kia s design team says this is a "near-future" look at an off-road version of its Soul wagon. It has a fully retractable canvas roof and integrated roof rack fittings with aluminum cross rails. It sits 2.5 inches higher than a standard Soul, for better off-road performance, and it s fitted with eye-catching Pirelli snow tires. Under the hood is a turbocharged, 1.6-litre, four-cylinder engine with 185 horsepower and an electric all-wheel-drive system that can be switched on when it s needed, which helps improve fuel economy over the regular Soul.